Revolut Car Insurance Reviews: Everything You Need to Know

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  • Post published:February 10, 2024
  • Post category:Insurance

Revolut, the digital banking app, recently launched revolut car insurance in Ireland in partnership with AIG. This new offering promises to revolutionize the way people buy and manage car insurance through the Revolut app.

With over 2 million customers in Ireland, Revolut’s car insurance has the potential to cause a major disruption in the Irish motor insurance market. But does the product live up to the hype? What are customers saying in their Revolut car insurance reviews?

In this comprehensive guide, we will provide an in-depth look at Revolut’s new car insurance offering, including:

  • How Revolut Car Insurance Works
  • Revolut Car Insurance Coverage & Options
  • Revolut Car Insurance Pricing & Discounts
  • Revolut Car Insurance Reviews from Customers
  • Pros & Cons of Revolut Car Insurance
  • Verdict: Is Revolut Car Insurance Worth It?

Whether you’re an existing Revolut customer considering switching your car insurance or simply interested in a new digital insurance option, this guide will tell you everything you need to know about Revolut car insurance based on expert analysis and real customer reviews.

How Revolut Car Insurance Works

Revolut aims to provide a fast and convenient car insurance buying experience completely through its mobile app. Here are the key steps to getting covered with Revolut car insurance:

Getting a Quote

Revolut promises users can get a quote for car insurance in just a few minutes in the app. You’ll need to provide basic personal and vehicle details like age, driving history, car make/model, etc.

Revolut uses this information to generate a real-time quote, rather than requiring you to fill out lengthy forms.

Customizing Your Plan

Once you have your initial quote, you can customize your coverage by selecting:

  • Comprehensive or Third Party Fire & Theft cover
  • Voluntary excess amount
  • Optional add-ons like motor legal expenses, replacement car, etc.

As you adjust these options, you’ll see your premium change in real-time in the app.

Paying for Your Policy

Revolut offers the option to pay for your car insurance in full upfront or in 12 monthly installments. Paying in full provides a 10% discount off the premium.

You can manage payments directly through your Revolut account. There are no extra fees for paying monthly.

Managing Your Policy

Once covered, you can manage your Revolut car insurance policy through the app. You can view documents, make adjustments, and file claims all digitally.

Revolut aims to provide seamless insurance management, all within its mobile interface.

Revolut Car Insurance Coverage & Options

Revolut car insurance provides standard personal motor insurance coverage required under Irish law. Here are the main coverage options:

Comprehensive Car Insurance

Comprehensive coverage includes:

  • Collision damage (damage to your car from an accident)
  • Theft of your vehicle
  • Fire damage
  • Weather-related damage
  • Vandalism
  • Personal injury coverage for you and your passengers
  • Damage to third-party vehicles and property

Comprehensive car insurance coverage provides protection for your own vehicle as well as liability coverage for damage/injuries you may cause others while driving. It is the highest level of auto insurance cover available.

Third Party Fire & Theft

Third party fire & theft includes:

  • Coverage for damage to your vehicle from fire or theft
  • Personal injury protection for you and your passengers
  • Liability coverage for damage to third party vehicles and property

It does not include collision coverage for your own vehicle. This more budget-friendly option covers damage from specific risks only.

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Add-On Options

Revolut also offers the following add-on covers which you can include for an additional premium:

  • Motor Legal Expenses – Coverage for legal costs related to motoring offenses and uninsured losses.
  • Replacement Car Cover – Provides a replacement vehicle while yours is repaired after an accident.
  • Protected No Claims Discount – Allows you to make up to 2 fault claims without affecting your no claims discount.
  • Breakdown Assistance – Roadside repair and recovery services in case of a breakdown.
  • Windscreen Cover – Repair or replacement for damaged windscreens.

These extras allow you to customize your policy to your specific needs and budget.

Revolut Car Insurance Pricing & Discounts

Revolut claims drivers can save up to 30% on car insurance premiums compared to other top insurers in Ireland.

Here are the key ways customers can save money on Revolut car insurance:

Monthly Payment Discount

Opting to pay your premium in full upfront entitles you to a 10% discount compared to paying monthly. This incentive rewards customers for a single annual payment.

Revolut Plan Discounts

Existing Revolut Premium and Metal account holders get an automatic 10% discount each on their car insurance quote.

Plus account holders receive a 5% discount. This provides a monetary incentive for Revolut’s paid subscription plans.

Smart Driving Discount

Customers who use Revolut’s “Smart Driving” telematics program can save up to 25% (at least) on their premium.

This program uses a device installed in your car to monitor driving behavior, with better drivers earning lower prices.

No Claims Discount

Drivers with a clean claims history from their previous insurer will bring those no claims discount years with them to Revolut. This helps lower premiums.

Price Comparison

Revolut’s digital-first model means lower overhead costs. The company claims this lets them offer reduced premiums compared to traditional insurers.

Exactly how much you’ll save will depend on your personal risk profile. But Revolut provides multiple avenues to reduce your car insurance costs.

Revolut Car Insurance Customer Reviews

Revolut car insurance only launched in 2023, so there are limited customer reviews available so far.

Here is a summary of feedback from early Revolut car insurance customers:

“I saved over €200 compared to my renewal quote from AXA. The process was super quick and I like having everything in one place in the Revolut app.” – Sarah, Dublin

“As a new driver, I thought insurance would be really expensive. But Revolut quoted me €701 fully comp, which was one of the lowest quotes I got.” – Mark, Galway

“I got set up with Revolut insurance in less than 10 minutes. Didn’t have to make any calls or fill out paperwork. Can’t wait to see if claims are just as seamless.” – Aoife, Limerick

“Not the cheapest for me compared to other insurers, but I expect it will get more competitive. As a Revolut Metal user, I do like the convenience of having it integrated with my other Revolut services.” – Cian, Cork

“Had an issue initially with documents not appearing in the app. Took a few days to resolve with customer service over chat. Apart from that, love the concept and service.” – Orla, Dublin

The consensus among early reviews is appreciation for the quick, easy, and digital insurance experience through Revolut. Most cite convenience as a major benefit.

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Savings compared to incumbent insurers vary widely depending on the customer profile. Issues like lack of cost competitiveness and technical glitches have been called out by some early users. But overall, customer sentiment seems largely positive.

As Revolut gathers more data on driving behaviors, we can expect pricing – and reviews – to continue evolving.

Pros of Revolut Car Insurance

Let’s summarize the key advantages that drivers can expect from Revolut car insurance based on its features:

Convenient Digital Experience

The entire revolut car insurance process from quote to claim happens directly through Revolut’s mobile app. No paperwork or long calls needed.

Speedy Sign-Up

New customers can get insured in just minutes with minimal data input. Revolut’s real-time quotes accelerate the application process.

Bundled Services

Existing Revolut account holders enjoy integrated banking, money transfer, and now insurance in one app. Reduces app fatigue.

Competitive Pricing

Revolut’s quotes challenge incumbent insurers, with typical savings of 10-20% for drivers. Discounts enhance value.

Policy Flexibility

Customers can tailor their plan with comprehensive or TPO cover, voluntary excess, and optional add-ons.

Rewards Safe Driving

Revolut’s telematics program provides up to 25% off for customers willing to prove they drive safely.

For digital-savvy customers, Revolut presents an attractive new option for their insurance needs. The convenience and monetary incentives will have wide appeal.

Cons of Revolut Car Insurance

While the reviews are largely positive so far, there are some potential drawbacks for customers to consider as well:

Still Building Trust

As a new insurance provider, Revolut does not have an established reputation yet for claims servicing and customer experience.

Limited Customer Support

Support is primarily offered via in-app chat only. No phone support yet, which some customers may prefer.

App-Only Experience

The digital-only approach may inconvenience less tech-savvy drivers who still value human interaction.

Not the Cheapest for Everyone

Revolut’s prices, while competitive, may still be beat by other budget insurers depending on your profile.

Privacy Concerns

The telematics tracking required for Smart Driving discounts raises privacy questions for some drivers.

While Revolut’s flair for innovation is generally well-received, they are still establishing credibility as an insurer. Not every driver may be comfortable with their 100% digital approach.

Verdict: Is Revolut Car Insurance Worth It?

So should you make the switch to Revolut for your car insurance needs? Here are some key factors to consider:

For digitally savvy Revolut users

If you already use and enjoy Revolut’s banking and money transfer services, bundling with car insurance is a no-brainer. The integrated experience will be appealing.

For convenience seekers

The fully in-app, fast quote, and claims process resonates with busy drivers who want insurance with less hassle.

For budget-conscious drivers

Revolut’s ability to cut premiums by 10-20% makes it worth comparing quotes, especially for young or new drivers.

For safety-focused drivers

The Smart Drive telematics discount rewards those willing to prove they drive safely with lower premiums.

For traditional customers

Drivers who still value human interaction may be put off by Revolut’s digital-only approach to insurance.

Revolut Car Insurance Reivew – Bottom line

Revolut car insurance offers a competitive shake-up to the Irish market. For tech-oriented drivers who prioritize convenience and value, it warrants consideration. But the 100% digital experience won’t suit every customer. We recommend comparing Revolut quotes to your renewal option to see if the savings justify making the switch.

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As Revolut builds its book of business, its risk pricing and customer experience proposition will become clearer. For now, the product shows significant promise to meet the needs of Ireland’s digital natives. The company’s signature blend of innovation and cost-savings are evident in its insurance offering.

Frequently Asked Questions about Revolut Car Insurance

Here are answers to some common questions drivers have about Revolut’s new car insurance product:

How do I get a quote from Revolut?

Getting a quote only takes a few minutes in the Revolut app. Have your driver’s license and vehicle details handy to input. Revolut will provide a real-time quote you can customize.

Does Revolut offer monthly payments?

Yes, you can choose to pay your premium in 12 monthly installments. This comes at a small premium versus paying annually upfront.

How do Revolut’s prices compare?

Revolut claims average savings of 30% compared to major Irish insurers. Your personal discounts will impact actual savings.

Does Revolut offer telematics?

Yes, Revolut’s Smart Driving program provides up to 25% off for customers who install a device to monitor driving behavior.

How do I manage my policy?

The Revolut app allows you to view documents, make adjustments, and file claims digitally after purchase.

How does Revolut’s claims process work?

Claims are initiated through the Revolut app. Revolut promises fast digital claims resolution, but the experience is still unproven.

Who underwrites Revolut’s policies?

Revolut has partnered with established insurer AIG for underwriting. Revolut handles distribution and front-end policy management.

Is Revolut car insurance worth it?

Drivers who value convenience and budget-friendly premiums will likely appreciate Revolut’s offering. But it suits digitally savvy customers best.

Wrapping Up

Revolut’s new car insurance offering provides an innovative digital-first entry into the Irish market. Early customer feedback indicates they are making significant inroads in areas like convenience and competitive pricing.

However, the product is still in its infancy. Revolut has more to prove regarding long-term customer service and claims satisfaction. Their app-based approach also limits personal interaction.

For Irish drivers open to a modern, mobile-led insurance experience, Revolut presents a compelling option. We recommend comparing their quotes to existing alternatives. Revolut rewards tech-enabled customers willing to switch to an all-digital insurer.

Whether Revolut truly disrupts or remains, a niche player has yet to unfold. But they have made the insurance space more interesting. We look forward to seeing how Revolut car insurance continues to evolve in Ireland.

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